Biotechnology and vaccines group CSL has confirmed itself as Australia’s global manufacturing powerhouse with net profit after tax for the first half of the year of $1.86 (US$1.25) billion, up eleven per cent on the previous corresponding period.
The half saw dramatic growth in its blood-based products, with R&D investment over more than a decade paying off with new differiented immunoglobulin sales taking off.
Sales of PRIVIGEN and HIZENTRA used for the treatment of primary immune deficiency were up 28 per cent and 37 per cent respectively.
CSL chief executive Paul Perreault said: “Our results reflect the focused execution of our strategy, robust demand for our differentiated medicines and a deep, inherent passion for meeting the evolving needs of patients.”
Sales of albumin which regulates blood pressure fell 33 per cent overall, though sales fell in China where CSL is moving to a direct distribution model.
The transition will allow the company to participate in more of the value chain for albumin and work directly with physicians.
The company’s recombinant haemophilia products AFSTYLA and IDELVION grew 30 per cent and 21 per cent respectively.
Seasonal vaccine sales to prevent influenza also rose.
The company’s stellar result explains a year-long rise in the company’s shares which openned this morning at $325.73.
This values the Melbourne company at a whopping $148 billion.
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